The Newbridge Credit Union Action Group is going to the High Court tomorrow (Monday) to seek a stay on a proposal for a takeover of the institution by Permanent TSB.

The Central Bank had been considering a merger between Naas and Newbridge Credit Unions, but this is believed to have been ruled out.

Instead, it's being suggested that Permanent TSB takes over Newbridge Credit Union.

The action group had come up with alternative proposals which involved the credit union debt and loan book being held by a local consortium.

Chairman Willie Crowley hopes the High Court will prevent any movement until their proposal is given full consideration: